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Drawing on insights from 115 community land trusts (CLTs), Preserving Affordable Homeownership: Municipal Partnerships with Community Land Trusts , a new 2024 Policy Focus Report released by The Lincoln Institute of Land Policy , explores how CLTs are partnering with public officials to help address the housing affordability crisis.
It also recommends that the GSEs launch a “Home-Only loan pilot, [and to] consider adding any additional consumer protections, include a standardized landlease, and homebuyer education and counseling,” the document explains. Additionally, the GSEs should develop “better loan products” to serve the single-family market.
Georgia Power has similar deep interests; homes on their lakes have landleases granted to the owners. The company retains ownership of the land and leases it back to the owner of the structure. Strict to the point of owners doing nothing, even landscape clean up, without permission.
Example: Landlease. In a large development of approximately 300 houses, four of them were on a 99-year landlease with 55 years remaining. Reason was it was the last portion of the block of land, and the owner wouldn’t sell, but did agree to the landlease. Market conditions.
With Todman’s emphasis on mission-driven entities and nonprofit access to the program, Gooch said its portrayal was needlessly negative toward private owners of land-lease communities, where many MHI-backed manufactured homes are ultimately placed. That’s why I find it interesting. They weren’t a good partner for us in that.”
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